Yes. Nomination is allowed for mutual fund investments where the first unit holder is an NRI, as per SEBI regulations.
Essential Details:
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Every mutual fund folio must have a nomination facility, regardless of the investor’s residential status.
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An NRI investor can nominate one or more individuals to receive the units or proceeds in the event of their demise.
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Nomination can be made during the initial application or later by submitting a nomination form to the AMC or RTA.
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The nominee may be resident or non-resident, but the nomination must comply with Indian mutual fund laws.
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Nomination ensures smooth transmission of units without requiring a probate or succession certificate.